President Bola Tinubu says he identified with the pain of Nigerians following the removal of subsidy on Premium Motor Spirit (PMS), popularly called petrol.
Tinubu said the temporal discomfort was necessary to save Nigeria from going under.
The President made the declaration in his Democracy Day address to Nigerians on Monday, June 12, 2023.
He said: “In my inauguration address on May 29, I gave effect to the decision taken by my predecessor-in-office to remove the fuel subsidy albatross and free up for collective use the much-needed resources, which had hitherto been pocketed by a few rich.
“I admit that the decision will impose extra burden on the masses of our people. I feel your pain. This is one decision we must bear to save our country from going under and take our resources away from the stranglehold of a few unpatriotic elements.
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“Painfully, I have asked you, my compatriots, to sacrifice a little more for the survival of our country. For your trust and belief in us, I assure you that your sacrifice shall not be in vain.
“The government I lead will repay you through massive investment in transportation infrastructure, education, regular power supply, healthcare, and other public utilities that will improve the quality of lives.
“The democracy MKO Abiola died for is one that promotes the welfare of the people over personal interests of the ruling class and one where the governed can find personal fulfillment and happiness. That is the hope MKO Abiola ignited throughout our country in 1993.
“On this year’s Democracy Day, I enjoin us all to rededicate ourselves to strengthening this form of government of free peoples that has been our guiding light these past 24 years.
“On my part and that of my administration, I pledge anew our commitment to diligently fulfilling every component of our electoral pact with the people – the ‘Renewed Hope’ agenda.”
The Star recalls that Tinubu announced the removal of subsidy on petrol on May 29, 2023, when he took his oath of office as Nigeria’s President, saying there was no allocation for it in the 2023 budget beyond June.
Following Tinubu’s announcement, the increase in petrol pump price skyrocketed from N195 to N537 nationwide, leading to price increase in transportation and commodities.
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